The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-05-08
AN INTERESTING CASE.
New Faces Among the Counselors of
the Courts.

inc SOllTIS
New York. May IL never go into one
of the court rooms in New York without
seeing among the counselors some new faces,
and it is often that of a man who has made
q name elsewhere, either i'll politics or at the
bar. As all roads used TO lead to Rome, so
the careers of all great lawyers in the
United States seem finally TO lead them to
New York Looking in at Judge Law
rence's court the other day, | saw there q
very tall gentleman of military bearing
pleasing address and pleasant speech, argu-
ing that the Supreme Court had no juris-
diction to appoint a receiver for an assess
ment life insurance company that had gone
into voluntary liquidation. | learned upon
inquiry that the lawyer was Col. Edward
c. James, the son of my old acquaintance,
Judge James, for many years Judge of the
Supreme Court for the Northern District of
New York and afterwards member
of Congress from the district so long
represented by William A. Wheeler
Col. James has had brilliant career from
the day he entered the army as one of the
youngest Colonies who took commands from
this State to the front in 1861 to the present
day, and the rapid strides he is making to-
ward place in the very front rank of New
York lawyers do not surprise those who
know him best. He came TO this city badly
crippled, financially, after the failure of
Grant d Ward, with whom he had on de
posit 100000 in cash, besides 800, 600 fic-
titious profits, all of which was swept away
in day. He disposed of his library and in
other ways provided for his liabilities and
then bucl1led down to hard work. His in
dustry is mtiring, and is now reaping its
mcrited reward. He is counsel for the ele-
waited railroad in its accident suits, for the
bondholders of the WesO Tennessee railroad,
secured q reversal of the case of Lee VS.. the
Anchor Line at the last general term of the
Court of Common Pleas, and is counsel in
some Of the most important litigations now
in progress in this city. Mr.. Choate said of
him recently that in twenty-five years Of
practice he never remembered being so
much hurried as by Col James.
By the way, the case in which | heard
Col. james making an argument is one In
which hundreds of thousands of people in
every part Of the country are interested.
1t was really to determine the validity of
the act of the Legislature under which as
sessment life insurance companies are organ
lied. These companies, most readers under
stand issue certificates on the payment of a
small sum, say 50, which, entities the heirs
of the holders of them, on the death of the
latter, to receive certain fixed amounts, or
the proceeds of a single assessment made
upon all the surviving members. This
method apparently offers an exceedingly
cheap form of insurance, and it would dc
so, in fact, if the affairs of the companies
were always managed by men who were
honest, skilled and experienced.
The Attorney General of the State
in this case was asking for the
appointment of a receiver for the late
and now defunct Mutual Trust Life
Insurance Company. This institution, as
have already said, had gone into voluntary
| liquidation, its officers declaring that the re
suit Of their experience was that the assess
ment assurance was of no value to the III
sured. and advising its certificate holders tC
reinsure in a stock company organized or
the old plan. If it should be judicially de
| termined, as Col James commended, that tbs
Supreme Court has no jurisdiction over Thu
class of companies, it is difficult to tell how
far-reaching such decision might be. L
would be unfortunate for anything to occur
to shake confidence any farther in a class o
life insurance that SO many people are in
terested in. The value of the protection i
| gives depends in great degree upon the be
lief of those who hold its certificates in it
soundness. Any distrust makes member
slow TO pay assessments, and if they stop in
surance becomes worthless. -, = -, 20 u
2. L. WHITE. :